ReveleerHeadquarters: GlendaleCEO: Jay AckermanBusiness: Health care software 2019 Revenue: $10.6 millionNotable: Name designed to “reveal” path to managing insurance programs.Growth: 195% Reveleer is a medical data platform for health plans that facilitates government compliance and risk management.
The Glendale company has three lines of business for use with Medicare, Medicaid and commercial insurance carriers and its cloud-based software can sort, retrieve, abstract and analyze medical records to reveal trends or providers in need management attention. Last year, the company made more than $10 million in revenue and signed a $16 million agreement with Anthem Blue Cross to use the Reveleer platform for medical record review and submission. Reveleer had been around for five years as Health Data Vision before Jay Ackerman came aboard as chief executive in 2016 and turned the company around.
“When I came in,” Ackerman told the Busines Journal, “I thought we were ready for growth but we soon realized that we needed to tear the house down to the studs and rebuild it before we could grow it. Fortunately, we had patient investors.” In 2019 came a company name rebranding and the win of the Anthem account.
“They liked our software,” he said. “When they chose us, that drove a lot of revenue and that gave us some street cred.” The company dropped 12 people from its team but is now on course to scale the employee base back up to its pre-COVID total of 85.
“The COVID cloud has lifted,” Ackerman said. “We’re continuing to take steps to capture more information electronically and seamlessly so if we see a second lockdown, it shouldn’t affect our business.” – Michael Aushenker